Retail Foreign Exchange Dealer
An RFED is an individual or organization which acts, or offers to act, as a counterparty to an off-exchange foreign currency transaction with a person who is not an eligible contract participant and the transaction is either:
- a futures contract, an option on a futures contract or an option contract (except options traded on a securities exchange); or
- offered or entered into, on a leveraged or margined basis, or financed by the offeror, counterparty or person acting in concert with the offeror or counterparty on a similar basis.
Registration is required unless the individual or organization is exempt from registration as an RFED pursuant to Sections 2(c)(2)(B) or 2(c)(2)(C) of the Commodity Exchange Act.
- Retail Foreign Exchange Dealer. NFA.
- Registration Overview for Retail Foreign Exchange Dealers and Forex IB, CTA and CPO Applicants. National Futures Association.